Floyd Mayweather Jr. Buying Stake in Ex-Versace Mansion

Floyd Mayweather Jr. is making more moves in Miami Beach.

The retired boxer turned real estate investor is partnering with the Nakash family and Eli Gindi to acquire a large stake in the former Versace Mansion, now known as Villa Casa Casuarina, The Real Deal has learned.

Mayweather is taking the majority of Gindi’s interest in the iconic property at 1116 Ocean Drive for an undisclosed price, according to sources. The former home of slain Italian fashion designer Gianni Versace is one of the most photographed mansions in the country. It was converted into a luxury boutique hotel with a restaurant, spa, pool, lounge and event space.

“I feel blessed to be a part of such an important piece of real estate,” Mayweather said in a statement provided to TRD. “Eli Gindi and the Nakash family are real estate royalty.”

Gindi said Villa Casa Casuarina, which he called “one of the most iconic properties,” was on the market for $150 million. With Mayweather, the owners plan to open up the estate to the public.

The Nakash family, which has built a global conglomerate that started with their fashion brand Jordache Jeans, owns at least six hotels on Ocean Drive.

Villa Casa Casuarina is a three-story, 23,462-square-foot building that sits on a 0.4-acre property. It was built in 1930. The Nakash family’s Jordache Enterprises paid $41.5 million for the famed site at an auction in 2013.

Ayal Frist of AlphaTech Real Estate Group is brokering the deal, and Morris Missry of the New York-based law firm Wachtel Missry is representing Mayweather.

It’s expected to close in the first quarter of next year.

Mayweather, who has reportedly earned $1.1 billion through his boxing career and business ventures, recently sold his waterfront Miami Beach mansion on Palm Island for $22 million. Last month, he listed his Las Vegas mansion for $12.5 million, the Las Vegas Review-Journal reported.

But he has been ramping up his commercial real estate investment. He recently invested in 601W Companies’ $10 billion portfolio of 18 office buildings spanning 10 million square feet, including properties in New York, Chicago and Jersey City, marking his “most significant” investment to date, TRD previously reported. He has also invested more than $100 million with office landlord SL Green.

In October, he went into contract on a $402 million apartment portfolio in New York. Black Spruce Management is the seller of more than 60 rental buildings.

The office and multifamily deals were also brokered by Frist.